CatFx50 - page 470
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May I say there is a difference between changing a system and between improving it. Improving on something is good if it is possible. Some of you may have interpreted my comments about the LWMA the wrong way. I will be the first to acknowlege what a great system this already is and in no way want to change it. Let us be clear in what I was trying to achieve, and that is, to eliminate false signals with the LWMA set at High or Close. That's called improving, if of course, it works. I have not suggested changing the the value of the 50MA have I.
I was the first, I believe, to say 'if it isn't broke don't fix it'
So to be clear, my thoughts on improving the 50MA are genuine. In my book, constructive criticism and suggestions are always welcome.
Forgive me, I have only tried to help avoid false entries by my suggestions. Nothing wrong in that. I'll say no more on the subject.
As per Nina:
But we keep saying "that, this and so on". Learn to feel the market, learn to make catfx50 stronger. When I have a car, I tweak it, but I do not change its engine. It'd be another car if I did.
I will have to agree with the above part about feeling the market. Ever since I joined Forex TSD I've concentrated to learn what experienced traders - like Nina - say about feeling the market.
Of course, we can all change the parameters of indicators to suit our particular taste and mood, but getting that subjective feel for the larger market, that's what will make you a better trader.
I've mostly watched many events and even gotten up early when I didn't have any money at stake, just to watch the market's behavior. I remember a few nights ago when we had a number of false signals, one of the more experienced traders started using his own method for that tightly ranging market...and it was working for him! The next day, when I was presented with a very similar situation, I remembered and took 10 pips using the same method.
Do you folks remember when I kept asking the experienced traders for a definition of "strength." ? It took a couple of postings because I knew it would be an involved subject. However, when they got around to answering, the stream of useful insights was very beneficial and well worth it.
Indicators and settings are a dime a dozen, the real deal is to acquire the trader's vision and feel.
moneyline
Hi Meriakre
I also think it would be the easiest way with a white label solution like Kiwigold says. Then you would be an introducing broker i think.
In my opinion the legal side is very important. Because this is about money and if you make a mistake and somebody loses money it will probably go to court. And just think if you don't fulfill all the legal requirements. Government authorities might make you pay fines or whatever. And who knows maybe organized crime would want to use your company for money laundering or things like this. So be careful and think of everything.
I don't know much about this business i'm just trying to think of stuff.
Maybe you should try to find a partner who has worked for a broker or financial company. Or try to find such a job for yourself and when you know how it works start your own company.
Money, Nina said it in your quote, tweaking the system not getting an new one. That's precisly what I have done. I've just added another 50 LWMA set to High and kept the original.
Hugo_Trader, Nina posts those pip amounts because that is what the system generates. Nina isn't saying we can get all those pips. When we trade catfx, we expect to get some of them. Which is good enough for me, and the others I imagine.
Makeral, sounds like you have neither the experience or the money..keep it simple...
LMAO!!!!!!
Hi Dave, look at this:
The circled image on the left started out to be a level 1 bear, but then the new blue bull candle opened below EMA50 and crossed. It's not a level 3, more like a level 1 that didn't produce. After that, on the 5th candle to the right, Hist_StepMA_Stoch turns green and you have a large bull candle level 1 that crosses and makes pips.
The image on the right, it's a level 1 bear that didn't work out. BTW, is that the pivot line I see right under those candles? If it is, they are hard to penetrate unless you've got some strength.
Look at the image above and you'll notice just about all the candles that made it to that level bounced.... notice that? Also, they are mostly smaller than the rest of the candles, meaning they ran out of steam at that level. I would have looked at that fact and seen if I was near a natural S/R or pivot line before pulling the trigger.
BTW, do you draw trendlines before your trading day starts? The price will follow the trendline up to a point. Have you noticed how Harold is always aware of where S/R and pivots are located? If you go back and study your chart you'll figure out why none of your level 1 trades could penetrate that line.
moneyline
well here we go again more indicators thats what we need NOT!!!! you who are looking to avoid false signals in any trading methods good luck cause you wont stop them completly accept it as a loss part of doing business your basic over head i have been trading my variation of the cat since january with a now astounding 80% accurancy for the last 5 yrs my record has been 63% i have put on 10 winners out of my last 11 trades look when you can understand what a moving average is and why we use it then you wouldnt be looking to put on more indicators a moving average is a moving trendline THATS ALL!!!!! draw a basic trendline and see what happens when price hits it it bounces or breaks it same thing thats the engine ninas talking about the step stocs are 1 of the filters along with other ta like pivot points trendlines etc the filters help kept you out of bad trades not more moving averages please comprehend this FACT or we will be talking about tweaking till the cows come home give it a rest already learn how to trade first then you wont be always looking for a perfect method the end
Cat Levels
Hi Dave, look at this:
The circled image on the left started out to be a level 1 bear, but then the new blue bull candle opened below EMA50 and crossed. It's not a level 3, more like a level 1 that didn't produce. After that, on the 5th candle to the right, Hist_StepMA_Stoch turns green and you have a large bull candle level 1 that crosses and makes pips.
The image on the right, it's a level 1 bear that didn't work out. BTW, is that the pivot line I see right under those candles? If it is, they are hard to penetrate unless you've got some strength.
Look at the image above and you'll notice just about all the candles that made it to that level bounced.... notice that? Also, they are mostly smaller than the rest of the candles, meaning they ran out of steam at that level. I would have looked at that fact and seen if I was near a natural S/R or pivot line before pulling the trigger.
BTW, do you draw trendlines before your trading day starts? The price will follow the trendline up to a point. Have you noticed how Harold is always aware of where S/R and pivots are located? If you go back and study your chart you'll figure out why none of your level 1 trades could penetrate that line.
moneylineThanks for your reply Moneyline,
Those large blue and yellow lines on my chart are indeed SDX breakout lines not trendlines and Yes, I do draw trendlines on my charts, usually on the 1 and 4 hr charts. At this point I am at a loss to define what a level 2 or level 3set up looks like. Maybe someone could post a real trade that used a level 2 or level 3 signal???
For the time being, I think I will just stick to level 1 and 4 signals.
Cheers,
Dave
Hi Dave,
I don't know if this means much, but I'm gonna go back to the observation concerning the price level. Have you noticed that on your graphic no candles penetrated that price levelfor an entire 29 hours?
That's got to meant something because even when your Hist_StepMA_Stoch was showing huge strength, it still wouldn't cross! There can be things happening the charts and indicators don't mention...like, there could have been some money defending that position.
I had an experience somewhat like yours. I went long on EUR/USD and short on USD/CHF. As my luck would have it, the action went the wrong way (I felt I had entered at the top and bottom of their ranges). It took these two trades a few hours to come around back to where they started. There was even a good news release concerning the Euro, but even with that, there was no way they would cross that line...none! I closed both trades at the same point, didn't win or lose...but a big waste of time!
Dig this: When I entered both trades I looked to see if those price levels had been crossed earlier that day (they had!), but with all of that it just simply boiled down to the fact I couldn't!
moneyline
Trading Signals
Hi Dave,
I don't know if this means much, but I'm gonna go back to the observation concerning the price level. Have you noticed that on your graphic no candles penetrated that price levelfor an entire 29 hours?
That's got to meant something because even when your Hist_StepMA_Stoch was showing huge strength, it still wouldn't cross! There can be things happening the charts and indicators don't mention...like, there could have been some money defending that position.
I had an experience somewhat like yours. I went long on EUR/USD and short on USD/CHF. As my luck would have it, the action went the wrong way (I felt I had entered at the top and bottom of their ranges). It took these two trades a few hours to come around back to where they started. There was even a good news release concerning the Euro, but even with that, there was no way they would cross that line...none! I closed both trades at the same point, didn't win or lose...but a big waste of time!
Dig this: When I entered both trades I looked to see if those price levels had been crossed earlier that day (they had!), but with all of that it just simply boiled down to the fact I couldn't!
moneylineHi Moneyline,
When I posted my chart and questions I wasn't searching for why this trade would be a positive or negative trade I was just trying to figure out what level of signal it was generating? I am finding it difficult to define in my mind what a level 2 and 3 signal look like based on the descriptions posted on the thread. I know that the first trade isn't in the specified trading time period and the second tarde is greater that 20 pips away from the 50 EMA. At this point, I think I will simplify things and only trade level 1 and 4 signals since I have a much better understanding of those signals.
With that said, you bring up and interesting observation about having strength with the Step-Stoch but the price wouldn't move any further down. This is one of the areas I struggle with and that's determining when there is a choppy market and that I should stay on the side lines and watch the game for awhile.
I'm sure alot of us newbies have this issue.
Thanks for your feedback.
Dave